Kamloops Property For Sale Real Estate Blog - Investing in real estate

Things to Consider When Buying an Acreage or Country Property

Want to buy an acreage? Need more information?

Finding the right acreage for you will provide years of enjoyment. Make sure that pretty piece of land will support your vision. Read on or click below to jump to the subjects:

• Financing for acreage
• Consider the services
• Maintenance and insurance
• Covenants and Zoning
• Tips
• Develop it yourself

More and more people are leaving the suburbs to live a country life, but buying an acreage is a little different than buying a house in the burbs. Buyers should investigate a number of things on the property, assuring them that the land they purchase is going to support the lifestyle they have envisioned.

Danielle lives on an acreage in Kamloops BC, give her a call to let her guide you on…

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What investors need to consider before making RRSP contributions

As we near the deadline of March 1 for making your RRSP contributions, I thought it is an appropriate time to give you a “to do” list of financial and investment planning items to review or consider.

Nancy Woods is an associate portfolio manager and investment adviser with RBC Dominion Securities Inc.

1. If you are the typical procrastinator when it comes to making an RRSP contribution, consider setting up a monthly payment plan into your RRSP. Making a contribution in the first 60 days of the calendar year allows you the option to choose which taxation year you deduct the amount from your income. There’s nothing that says you have to wait until the following year to make your contribution. This is, of course, dependent on you having earned income…

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Is now a good time to get a mortgage?

January is the time for resolutions, and for many people, one of those resolutions is getting a mortgage and buying a house.

But if you’ve been keeping abreast of the recent changes in the mortgage industry or even casually following economic forecasts, then the prospect of 2017 may have you a little wary.
 

Assessing your personal situation

Only about half of Canadians think that this this is a good time to buy a home or a condominium in their community, according to a survey that was part of the latest Annual State of the Residential Mortgage Market in Canada.
 
“The fall 2016 responses to this question have been contrasted with consumer opinions on how the new mortgage insurance rules would affect their ability to buy a home or condominium.…

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Advantages of Buying a Duplex, Triplex or Fourplex

There’s Strength in Numbers, Especially When It Comes To Making Mortgage Payments

So you’ve been renting for several years and you’ve worked your way into a sound financial situation. Time to buy a house, right? Absolutely. But the important question is: what kind of a house? After sharing buildings with other tenants you’ll probably be imagining moving your family into a snug little single dwelling castle of your own. However, that isn’t necessarily the wisest decision for everyone. Of course, there is something undeniably appealing about having a place all to yourself – but don’t forget to consider the charms of sheltering a tenant or two under your newly purchased roof. Buying a Duplex, Triplex or Fourplex can have a huge impact on your future as a…

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Understanding Your Listing Agreement

If you bought or sold a home recently, chances are you signed a listing agreement – but did you truly understand what you were signing?

Selling a home is a stressful time and can be worse if an employment change for example is forcing you to move quickly. While a common component of real estate transactions, listing agreements can have language that can be overlooked. Here’s what you should know about them – before signing on the dotted line.

What is a Listing Agreement?

A listing agreement is standard paperwork between the listing agents brokerage and the Sellers of the property. This document is much like an employment contract between the Sellers and the Listing Brokerage. This paperwork is completed before the listing can be active as an…

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5 Tips: Make Your Vacation Home Pay For Itself

Let’s say the vacation home you recently purchased is a real show-stopper.

Amazing views of the mountains are reflected in the tranquil lake below. Beautiful fireplaces, heated floors, and vaulted ceilings – it’s everything you’ve ever dreamed of. Now, how are you going to afford the mortgage, on top of your primary residence?

Here are five tips to make your vacation home pay for itself:

1. Make That Mortgage Disappear

In reality, your cottage is a second home – a vacation spot. You will use it a couple of weeks out of the year. The rest of the time you will be paying a mortgage on a place you don’t use…or will you? Smart investors know the secret to owning a great cottage is making it pay for itself. By renting out your vacation home, you can…

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Should you sell your home during winter months?

Absolutely!

Are we just saying this to get you to sign a listing contract with us? No way.

Let’s be honest, our job as Realtors is to make a living, right? The only way to make a healthy living in real estate is by creating strong relationships with clients, which is contrary to the popular belief of just selling more homes. Reason being, we are after referrals; the only way of earning a referral is by doing an outstanding job.

When we advise clients to list their home during winter months, it’s because we firmly believe that it’s in their best interests. We’re not being salesman, because like we said above, we are in the business of creating strong relationships.

CLICK HERE TO GET A FREE VALUE OF YOUR KAMLOOPS HOME

Buyers move for two…

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Who is out there in the Kamloops real estate market

Real estate trends vary a little from year to year

Sometimes it’s a buyer’s market, and other times sellers are favored. Knowing what is going on in financial and investment sectors can often signal you whether it’s time to buy or sell. 2016 is in it's the last quarter with some very low inventory available in Kamloops, we are seeing homes in the average price range and lower are selling fasteroften going into multiple offer situations. Millennials (born between 1982 and 2002) are finally beginning to invest in real estate in larger numbers, which should continue to rise. This is still a year that favors both buyers and sellers in various markets.

The Millennials

As more and more Millennials are considering their future retirement, eighty-percent…

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TD hikes mortgage rates for rental properties and lengthy loans

Toronto-Dominion is raising mortgage rates again

This time the lender is going much farther than its recent hikes.

Starting December 1, all fixed rate mortgages that take more than 25 years to pay back will cost borrowers an extra 10 basis points, or 0.1 per cent. TD is also implementing an extra cost for mortgages on rental properties, charging borrowers 25 basis points more.

The changes follow Royal Bank of Canada’s precedent-setting decision early in November to hike rates, and to also charge more for lengthy mortgages. The latter move marked the first time such a policy was implemented in Canada.

In response, TD increased its own fixed-mortgage rates a week later, but took a more measured approach. Royal Bank hiked its fixed five-year…

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Regulators should explore boosting minimum down payment on homes: CMHC

The head of Canada's federal housing agency says regulators should explore the possibility of raising the minimum down payment required on a home as a way of easing affordability and reducing risk to the financial system.

The head of Canada Mortgage and Housing Corp. (CMHC) has opened the door to the possibility of increasing the minimum down payment needed to buy a house, though a change is not currently on the table. Evan Siddall, president and CEO of Canada Mortgage and Housing Corp., says that although politicians are tempted to help first-time buyers, low down payments fuel demand and lead to higher housing costs. Siddall says that ends up hurting the first-time buyers that the government wanted to help.

Last year, Ottawa raised the minimum down…

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